Mumbai: Reliance Power and Swiggy shares surged on Wednesday. Swiggy share price jumped 6.69 per cent to Rs 534.85 on the BSE, while at the NSE, the counter soared 6.56 per cent to Rs 534.80. Meanwhile, Rpower share price appreciated 4.98 per cent to Rs 41.07 on the BSE. At the NSE, it gained 4.98 per cent to hit the upper circuit.
Reliance Power share price
The Rpower stock jumped after Solar Energy Corporation of India (SECI) confirmed to withdraw the debarment notice issued to Anil Ambani-led enabling the firm to participate in future tenders of the public sector entity.
SECI is the implementing agency for renewable energy projects. On November 6, 2024, the agency had accused Reliance Power Ltd and Reliance NU BESS Ltd of allegedly submitting “fake documents” and debarred the companies from participating in any of its tenders for three years.
On November 13, SECI issued a show cause notice to Reliance Power and asked it to explain why criminal proceedings should not be initiated after a fake bank guarantee was submitted by its unit.
Reacting to SECI order, Reliance Power informed the exchanges that the company and its subsidiaries, except Reliance NU BESS Ltd (formerly known as Maharashtra Energy Generation Limited), are eligible to participate in all tenders issued by SECI.
Swiggy share price rally
The shares of Swiggy rallied nearly 7 per cent after the firm in its July-September quarter results stated that it registered revenue of Rs 3,601.45 crore as against Rs 2,763.33 crore in the corresponding period last year. It reported losses of Rs 630 crore. The company, which went public in November 2024, had posted a net loss of Rs 657 crore in the year-ago period.
In a regulatory filing, Swiggy said it expected to achieve “positive adjusted EBITDA by the third quarter of FY26.”
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The share price of Reliance Power and Swiggy surged on December 4, 2024. Rpower stock hit the upper circuit after the company was debarred by Solar Energy Corporation of India (SECI). Swiggy shares jumped after it declared positive Q2 Results 2024-25. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
